13 years since the failure of Lehman Brothers
On this day 13 years ago Lehman Brothers filed for Chapter 11 Bankruptcy Protection.
Today we see what might be a rather large failing of Evergrande starting. The trading of bonds for this was suspended on September 15 with an announcement that they will not be paying the interest to the banks on their loans next week.
I wonder what it is about liquidity issues coming up in September?
Despite a lot of people talking about "endless money" printing and whatnot, there's still very serious liquidity problems in some markets at the moment. Which is why it will be interesting to see what happens next in this "too big to fail space".